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Looking to retire in Subic

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pmancini3
  1/27/2015 07:59 EST

My wife and I are looking to retire in the Subic Freeport zone in a little lest than 2 years and I'm wondering if our retirement income will be enough to live a comfortable lifestyle. Our retirement income will be in the area of $4500 a month but we would like to rent a secure home and have enough money to live comfortably and maybe travel a little bit, is this enough to live comfortably in Subic?

chance2013
  1/27/2015 08:52 EST

Subic can be a bit expensive in parts but if you look I am sure you will find cheaper properties, $4500 a month is fine at the moment 2 years who knows but I am sure it will be fine. In subic there are a few girly bars but not too many. Big shopping mall now, all in all not bad really

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pmancini3
  1/27/2015 08:54 EST

Thank you for the quick response. Not too concerned about girly bars but the big issue I think is just a secure place to retire.

CAteacher
  1/27/2015 15:15 EST

Chance2013, are you including purchasing health insurance in that budget of $4,500?

pmancini3
  1/27/2015 15:17 EST

I'm retired Navy so we have Tricare.

chance2013
  1/27/2015 18:15 EST

No I wasn't ca, obviously you can make $4500 way too little here if you want, all depends how your going to livei live on way less than that, way less

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pmancini3
  1/27/2015 18:24 EST

I'm sorry but I don't understand your response can you clarify what you are trying to say.

tlallen59
  1/27/2015 18:59 EST

I plan on living on 1/3 of that in the Provence but already have a house.

pmancini3
  1/27/2015 19:04 EST

We don't have a house but plan on renting one of the old military houses. I'm looking forward to it but just want to make sure we are financially secure.

tlallen59
  1/27/2015 20:54 EST

You can live very well on 4500.00 a month there. I will be comfortable on 1500 a month because I have no rent to pay. It all depends on what you need to achieve you comfort level.

mrbobo
  1/28/2015 06:38 EST

You can live like a king anywhere in the Philippines on 4500 a month, especially if the 4500 dollars is after taxes. I will a add a caveat however. You and your wife alone can live well of 4500 a month. If she has greedy in-laws who plan on using you as their private ATM machine it is a different story.

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markolewis69
  1/28/2015 07:33 EST

Hello I’m also retired military and planning to move to the PI in a few years I would like to keep in tuch with you to ask you some questions before I go. I will be going alone but I’m ready to take on a new adventure so when are you going and what made you pick subic?
mark

pmancini3
  1/28/2015 07:39 EST

I agree 100% about the inlaws. I had that issue over here for about a year until I put my food down. This is one of the reasons we want to stay in Subic. Subic is a 10 hour bus ride away from her province. Yes, this is aftr taxes so I think we are good to go, thanks.

Paul

pmancini3
  1/28/2015 08:45 EST

Hi Mark,

It's always good to hear from another Veteran. We picked Subic because of the housing and its location, close to the water and close to Manila. At least that's what we think now. We plan on renting until we find the place we really want to settle down at. We will be retiring in two years so I want to start planning now. I will keep you in the loop.

Paul

chance2013
  1/28/2015 10:38 EST

Pmancini I think you will be fine here, $4500. Keep control of your outgoings, you will be fine

kelseybythesea
  1/28/2015 13:45 EST

I agree ^, $ 4500 is perfectly fine. Been to Subic last year. You could find a well-secured house in Subic Homes, the houses are lovely. Great place with the beaches, night-life and proximity to Manila. I'm actually staying here in the PI at my friend's condo in Makati and it's amazing how everything's relatively cheap here. :)

robram63
  1/28/2015 17:40 EST

pmancini3 & markolewis69

Subic is lovely. My wife and I planned back in 2004 to live there. But last year prior to my 2013 ,when my wife retired and returned to Philippines she and I decided to move to Lip city a little way from manila south. Also a great place to live. Subic is fun and very convenient to Manila. That said we own property in gated community there that we brought in 2004 and never developed. Later as you move toward action stage if interested on owning lot let me know. I have two lots 300 sq meters each, side by side in Club Morocco, over looking Subic bay, Price is fair. Should see to understand how lovely area is.

EuroBob
  1/29/2015 08:45 EST

Is the $4500 a fixed number or does it increase each year to help offset inflation?
That is, will it still be $4500 in 20 years or will it have increased with inflation?
If the $4500 does not adjust itself with time, investigate if you should be savings some now to help in the future.
(just a thought)

pmancini3
  1/29/2015 08:47 EST

Luckily the $4500 does increase for inflation.

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